S&P 500 shakes off economic worries, rises to new high led by Nvidia
The S&P 500 rose to a fresh record-high on Tuesday and largely shook off a weak consumer confidence reading thanks to a sharp rise in Nvidia.
The broad market index inched up 0.2%. The Dow rose as much as 110.34 points to hit an all-time high earlier in the session, but was last up 49 points, or 0.1%. The Nasdaq Composite added 0.5%. Shares of artificial intelligence darling Nvidia climbed more than 4% alongside the broader field of chip stocks.
Consumer confidence suffered its biggest one-month decline in more than three years, hitting 98.7 for September. Economists polled by Dow Jones expected a reading of 104.
Source: CNBC